~snip~
Staking is in a gray area for me because these coins don’t have a hard supply cap. Maybe it doesn’t matter in the long run, maybe I am completely wrong about it. It is just I can’t wrap my head around PoS completely. I see binance offers ~3% returns on eth staking and maybe I will include it in my post too but then there are also other projects like eth and I don’t want my post look like a Chinese NFT/PoS brothel.
Well, the crypto market has long become a Chinese brothel already. But just like in a Chinese brothel, there are probably still a few who are not too stale yet and perhaps pretty, too.
Again, like a Chinese brothel, there's no long run in this market. They come and they go. They're just a quick way to make profit. Many have made nice money out of Arbitrum. I've heard of the likes of Swell and Ether.fi and others. These aren't the kind of PoS staking that you probably meant. But these are also what I'm eyeing at.
There's risk but there's also a nice ROI. Perhaps I'm taking not your keys, not your coins too seriously. It might be the right time to make some changes in my strategy.
I agree with the Not your keys, not your coin. But there also comes in the question of how much of your bitcoin you can essentially wager for more bitcoin? From where I live, spending crypto for daily necessities is out of the question because there is 30% taxation on crypto transactions and I would rather stash more crypto rather spend any, keeping fiat only for spending needs over bitcoin.
Also because these sites have been running for long, there owners are well reputed on this forum and chances of exit scam are low. It is not worth pondering if they are going scam anytime soon or not but use that time to make the money - lets not forget that time is a factor when considering these investments, lost time = lost money.
Yeah, same here. There's not much you can do with your Bitcoin. And with a fiat that's fast losing value, I'd rather keep my Bitcoin and spend my fiat. I'm spending Bitcoin once in a while, though.
Just like what they say, invest only what you can afford to lose. I'll stick with this. I'll risk only a small portion of what I have.